Applicable Excess Cash Flow Percentage definition

Applicable Excess Cash Flow Percentage means, with respect to any Excess Cash Payment Date, 50%; provided that, so long as no Default or Event of Default is then in existence, if on the last day of the relevant Excess Cash Payment Period, the Consolidated Total Leverage Ratio for the Test Period ended on such day (as established pursuant to the officer's certificate delivered (or required to be delivered) pursuant to Section 8.01(e)) is less than 3.00:1.00, then the "Applicable Excess Cash Flow Percentage" shall instead be 0%.

Applicable Excess Cash Flow Percentage means, with respect to any Excess Cash Flow Calculation Date, 50%; provided that so long as no Event of Default is then in existence, if on the last day of the relevant Excess Cash Flow Calculation Period, the Total Leverage Ratio for the Test Period then most recently ended (as set forth in the officer’s certificate delivered (or required to be delivered) pursuant to Section 8.01(e)), (i) is (a) less than or equal to 6.00:1.00 and (b) greater than 5.00:1.00, then the Applicable Excess Cash Flow Percentage shall instead be 25% or (ii) is less than or equal to 5.00:1.00, then the Applicable Excess Cash Flow Percentage shall instead be 0%.

Applicable Excess Cash Flow Percentage means 50%; provided that so long as no Event of Default is then in existence, if the Total Leverage Ratio for the Measurement Period ending on the last day of the Fiscal Year to which such prepayment pursuant to Section 2.05(b)(iv) relates is (i)(a) less than or equal to 3.00:1.00 and (b) greater than 2.25:1.00, then the Applicable Excess Cash Flow Percentage shall instead be 25% or (ii) less than or equal to 2.25:1.00, then the Applicable Excess Cash Flow Percentage shall instead be 0%.

Examples of Applicable Excess Cash Flow Percentage in a sentence

• The Parent shall procure that on each Excess Cash Flow Payment Date, an amount equal to the Applicable Excess Cash Flow Percentage of Excess Cash Flow (other than any amounts from Excess Cash Flow previously applied in accordance with Clause 12.3 (Application of Voluntary Prepayments)) for the relevant Excess Cash Flow Payment Period shall be applied in accordance with Clause 13.3 (Application of Mandatory Prepayments).

• No later than the earlier of (i) 90 days after the end of each Excess Cash Flow Period and (ii) the date on which the financial statements with respect to such fiscal year in which such Excess Cash Flow Period occurs are delivered pursuant to Section 5.01(a), Borrower shall make prepayments in accordance with Sections 2.10(h) and (i) in an aggregate amount equal to the Applicable Excess Cash Flow Percentage for the Excess Cash Flow Period then ended.

• In addition to any other mandatory repayments pursuant to this Section 4.02, on each Excess Cash Payment Date, an amount equal to the Applicable Excess Cash Flow Percentage of the Excess Cash Flow for the relevant Excess Cash Payment Period shall be applied as a mandatory repayment of principal of outstanding Term Loans in accordance with the requirements of Section 4.02(i).

• In addition to any other mandatory repayments pursuant to this Section 2.05(b), on each Excess Cash Flow Payment Date, an amount equal to the Applicable Excess Cash Flow Percentage of the Excess Cash Flow for the relevant Excess Cash Flow Payment Period shall be applied as a mandatory repayment of principal of outstanding Loans in accordance with the requirements of Section 2.05(b)(vii).

• For each Fiscal Year of the Borrowers, commencing with Fiscal Year 2001, the Borrowers shall make a prepayment of the Loans in an amount equal to the Applicable Excess Cash Flow Percentage of the amount of Consolidated Excess Operating Cash Flow for such Fiscal Year, such mandatory prepayment to be due one hundred and thirty-five (135) days after the end of each applicable Fiscal Year and to be applied in the manner set forth in ss.4.4.2.4.

More Definitions of Applicable Excess Cash Flow Percentage

Applicable Excess Cash Flow Percentage means, with respect to any Excess Cash Payment Date, 50%; provided that, if on the last day of the relevant Excess Cash Payment Period, the Secured Net Leverage Ratio for the Test Period then most recently ended for which financial statements have been delivered pursuant to Section 9.01(a) or (b) (as set forth in the officer’s certificate delivered (or required to be delivered) with respect to such Test Period pursuant to Section 9.01(e)), is (i)(a) less than or equal to 2.00:1.00 and (b) greater than 1.00:1.00, then the Applicable Excess Cash Flow Percentage shall instead be 25% or (ii) less than or equal to 1.00:1.00, then the Applicable Excess Cash Flow Percentage shall instead be 0%.

Applicable Excess Cash Flow Percentage means, (a) so long as a Default or an Event of Default exists on the respective Excess Cash Flow Payment Date, 100 per cent. and (b) so long as no Default or Event of Default exists on the respective Excess Cash Flow Payment Date, 50 per cent. where the Consolidated Leverage Ratio on the last day of the respective Excess Cash Flow Payment Period is equal to or greater than 2.50:1.00 and zero where the Consolidated Leverage Ratio on the last day of the respective Excess Cash Flow Payment Period is less than 2.50:1.00.

Applicable Excess Cash Flow Percentage means 50%; provided that, so long as no Default or Event of Default exists on the respective Excess Cash Flow Payment Date, (i) if the Total Net Leverage Ratio as of the last day of the respective Excess Cash Flow Payment Period is less than or equal to 3.50:1.00 but greater than 2.50:1.00, then the Applicable Excess Cash Flow Percentage instead shall be 25% and (ii) if the Total Net Leverage Ratio as of the last day of the respective Excess Cash Flow Payment Period is less than or equal to 2.50:1.00, then the Applicable Excess Cash Flow Percentage instead shall be 0%.

Applicable Excess Cash Flow Percentage means 50%; provided that, so long as no Default or Event of Default exists on the respective Excess Cash Flow Payment Date, (i) if the First Lien Net Leverage Ratio as of the last day of the respective Excess Cash Flow Payment Period is less than or equal to 3.50:1.00 but greater than 2.75:1.00, then the Applicable Excess Cash Flow Percentage instead shall be 25% and (ii) if the First Lien Net Leverage Ratio as of the last day of the respective Excess Cash Flow Payment Period is less than or equal to 2.75:1.00, then the Applicable Excess Cash Flow Percentage instead shall be 0%.

Applicable Excess Cash Flow Percentage means, with respect to any Excess Cash Payment Date, 75%; provided that so long as no Default or Event of Default is then in existence, if on the last day of the relevant Excess Cash Payment Period, the Leverage Ratio for (and as calculated on the last day of ) the Test Period then ended is less than 3.5:1.0, then the Applicable Excess Cash Flow Percentage shall instead be 50%.

Applicable Excess Cash Flow Percentage means 50%, with a step down to 25% upon the achievement and maintenance of a Total Net Leverage Ratio of less than or equal to 4.50:1.00 and a further step down to 0% upon the achievement and maintenance of a Total Net Leverage Ratio of less than or equal to 4.00:1.00.

Applicable Excess Cash Flow Percentage means, with respect to any Excess Cash Payment Date, 50%; provided that if on the last day of the relevant Excess Cash Payment Period, the Total Leverage Ratio for the Test Period then most recently ended (as set forth in the officer’s certificate delivered (or required to be delivered) with respect to such Test Period pursuant to Section 9.01(e)) is (i)(a) less than 1.50:1.00 and (b) greater than or equal to 1.00:1.00, then the Applicable Excess Cash Flow Percentage shall instead be 25% or (ii) less than 1.00:1.00, then the Applicable Excess Cash Flow Percentage shall instead be 0%.